How has the PM SVANidhi scheme helped an MP beneficiary revive his business?
Click to start listening
Synopsis
On Prime Minister Modi's 75th birthday, beneficiaries like Mohammad Wasim Khan share how the PM SVANidhi scheme has revitalized their businesses and lives. This heartfelt story highlights the impact of government initiatives on small traders in India, showcasing the dignity restored through financial support.
Key Takeaways
- PM SVANidhi scheme has transformed the lives of many small traders.
- The scheme provides collateral-free loans to vendors affected by the pandemic.
- Beneficiaries can receive up to ₹50,000 over three years based on timely repayments.
- Local officials report significant business revivals in their communities.
- The scheme not only offers financial support but also restores dignity to street vendors.
New Delhi, Sep 17 (NationPress) As Prime Minister Narendra Modi marks his 75th birthday, numerous beneficiaries of various central welfare initiatives throughout India are voicing their appreciation. Among these individuals is Mohammad Wasim Khan, an electrical technician and motor rewinding specialist from Khandwa, who attributes his business resurgence and family legacy revival to the PM SVANidhi Yojana.
"I took over my father's workshop, but we were short on essential tools for efficient operations. I often had to borrow equipment, causing delays in my work and impacting my earnings," Khan shared, now proudly managing a well-equipped workshop in Khandwa city.
“Upon discovering the PM SVANidhi scheme via the Khandwa Municipal Corporation, I applied and secured a loan of Rs 10,000. This allowed me to acquire critical tools and relaunch my business. My clientele has increased, and my income has improved significantly. My family’s stability has been restored, and I am genuinely grateful to Prime Minister Narendra Modi for this opportunity,” he remarked.
Initiated in June 2020 by the Ministry of Housing and Urban Affairs, the Pradhan Mantri Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme is designed to provide collateral-free working capital loans to street vendors and small traders impacted by the COVID-19 pandemic.
The initiative allows vendors to access a loan of ₹10,000 in the first year, increasing to ₹20,000 in the second year and ₹50,000 in the third year, contingent on timely repayments. Recently, enhanced benefits of ₹5,000 have been introduced, raising the initial disbursement to ₹15,000.
Commenting on the scheme’s local influence, Mohammad Saeed Shah, City Mission Manager of Khandwa Municipal Corporation, stated: “This initiative is a tremendous boon for street vendors. In Khandwa, numerous beneficiaries like Wasim Khan have successfully revitalized and expanded their businesses. We now provide ₹15,000 in the first year and ₹25,000 in the second year, and I encourage more vendors to take advantage of these benefits.”
On the occasion of PM Modi’s birthday, beneficiaries such as Wasim Khan emphasize that they are not merely honoring a leader, but also the transformative opportunities his government’s schemes have created in their lives. For countless small traders across India, PM SVANidhi represents not just financial assistance, but the restoration of their dignity.
Point of View
I recognize the profound impact of government initiatives like the PM SVANidhi scheme on the lives of small traders. These stories underscore the importance of financial support in restoring dignity and stability for families across the nation. It's crucial that we continue to spotlight these transformative narratives.
NationPress
21/09/2025
Frequently Asked Questions
What is the PM SVANidhi scheme?
The PM SVANidhi scheme is a government initiative launched in June 2020 to provide collateral-free working capital loans to street vendors and small traders affected by the COVID-19 pandemic.
How much loan can beneficiaries receive?
Beneficiaries can receive ₹10,000 in the first year, ₹20,000 in the second year, and ₹50,000 in the third year, with additional benefits that may increase the initial disbursement to ₹15,000.
Who is eligible for the PM SVANidhi scheme?
The scheme is designed for street vendors and small traders who have been impacted by the COVID-19 pandemic.
How does the scheme help small traders?
The PM SVANidhi scheme provides essential financial support to small traders, enabling them to purchase tools and equipment, thereby enhancing their business operations and income.
Are there any additional benefits in the scheme?
Yes, recent updates to the scheme have introduced additional benefits to assist vendors further, including increased loan amounts.
